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TON poised to rally 27%

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The price of the cryptocurrency showed its strength over the past month, rising above the major support levels. At the time of writing, the price of TON has increased by 20% over the past week and currently ranks 26th with a total market capitalization of about $2.19 billion, according to data From CoinMarketCap. Although the Layer-1 token price was training in the red on Friday, a bullish formation indicated a massive rally to $2.27.

from the project White papersThe Open Network (TON), otherwise referred to as TonCoin, is a fast, secure and scalable blockchain network project, with the ability to handle millions of transactions per second if needed. It is also user and service provider friendly.

The community-led project plans to deliver a highly scalable blockchain network capable of processing transactions cheaper and faster compared to other networks on the market today, including Ethereum. Other aspirations for the project include developing the network into an ecosystem capable of providing decentralized storage, anonymous networking, Domain Name System (DNS), instant payments, and other services.

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TonCoin (TON) is the utility token for this ecosystem, with many use cases including facilitating transactions such as rewards and network validation. The TonCoin blockchain is based on the Proof of Stake (PoS) protocol, which means that validators must share their tokens to verify a user’s transaction on the network. According to TONThe maximum supply of service tokens is five billion, of which 112 million (2.24%) are owned by validators, while the TON Foundation owns 74.9 million (1.5%) coins.

According to data on CoinMarketCap, TON had a circulating supply of over 1.2 billion coins and a live market capitalization of $2.2 billion as of December 2, 2022, which places the cryptocurrency 26th according to these metrics.

Positive fundamentals push TON higher

TonCoin was launched on August 26, 2021 at a trading price of $0.41 and has recorded steady growth for the first few months leading to its biggest hack to date. The cryptocurrency rose to an all-time high of $5.84 on November 12, 2021, after a staking event run by cryptocurrency exchange OKX. At the event, up to 1 million TON tokens were up for sale in their prize pool for anyone who wins the OKB token.

Later, TonCoin a statement More than 4.2 million tokens took part in the event, making TonCoin the most successful cryptocurrency in this amazing program. “

However, after a subsequent peak at $5 on Christmas Day of 2021, TON finally plunged into what became the beginning of the 2022 bear market. It lost all of its previous gains over the course of the year. The situation for TonCoin improved in September 2022 when TON started to skyrocket after it launched the Huobi exchange Total prizes for TON traders, which caused the coin to surge to $2.04 on September 7. TonCoin hit another high on Oct 27, 2022, reaching $1.98 after KuCoin cryptocurrency exchange included TON tokens on its trading bot product.

Although the price of Toncoin has fallen slightly since then, the token posted notable gains during the month of November as developers made progress in developing the blockchain. Proof of this growth is the existence of a new decentralized exchange (DEX), dubbed STON.fi Launched On November 19, 2022.

Meanwhile, SafePal crypto wallet has announced plans to integrate TON crypto for the foreseeable future. Once this happens, SafePal wallet users will be able to store their TON assets in their hardware and software wallets.

The news pumped TON to $1.74, up 10% from the previous week and 24% more than the previous month. At the time of writing, TON is trading at $1.80 Queen Gekko, up 1.5% over the past 24 hours, as the open network is poised for a 27% rally. The coin’s trading volume increased by 57.0% over the past week, while the total circulating supply of the coin decreased by 0.66%.

Triangle break to $2.27?

By the end of November, the TON price increased by 20.52% to approach the $2.11 level, and almost all technical analysis indicators are showing bullish signals. However, some indicators indicated bearish tendencies, balanced by an overall neutral sentiment.

Toncoin price has formed an ascending triangle pattern on the daily chart (below). The ascending triangle pattern is a price action that allows a horizontal line to be drawn along the swing tops and an upward trend line drawn along the swing bottoms, with the two lines forming a triangle.

TON/USDT daily chart

TradingView Chart: TON/USD

With this pattern of price action, traders should watch for breakouts from the triangle pattern to the upper side. In the chart (above), the first hack attempt was premature and aborted soon after. However, since the run to the x-axis is enhanced by the continuous build-up, a second breakout is likely.

The ascending triangle pattern is also known for its reversal tendencies, which indicates the possibility of TON price rising above the X-axis (resistance at $1.88) and pushing beyond the psychological $2.0 level. A break of 26% of the technical target of the ruling chart pattern, would bring TON price close to $2.27, as shown in the above chart.

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Moreover, with increasing buying pressure and approaching the overbought area, as indicated by the Relative Strength Index (RSI) at 56, it indicates that TON price is poised to go higher. With the price of Toincoin above the moving average, the odds are in favor of the bulls.

Traders should closely follow the MACD movement (blue line) to confirm the viability of the bullish trend over the next few days. Increased volume helps confirm the breakout, as it shows increased interest as the price moves out of the pattern due to increased buying pressure.

On the downside, TON price may decline from the current price to slide below the hypotenuse of the triangle at $1.76. If this happens, the altcoin could drop first towards the psychological level of $1.5, and later to the swing low of $1.3. Investors can expect the Toncoin price to take a breather here before the recovery begins.

Other projects of interest to diversify the investors’ portfolio

Amidst the current uncertainty in the market, there are other projects besides TonCoin, that will surely attract investor interest. Among them, IMPT and Calvaria, have already shown strong fundamentals and fast-moving investors have already identified the opportunity and jumped in to make early profits.

IMPT

You can join the Impact Carbon Offset Program by investing in an IMPT token, and become part of a large ecosystem that connects socially responsible brands with businesses and individuals looking to reduce their carbon footprint.

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Designed to link to carbon trading, the IMPT project It is based on the blockchain and is committed to enabling users to buy, sell or withdraw carbon credits while avoiding double counting and fraud. At the heart of the project is Combine Non-Fungible Tokens (NFTs) and Carbon Credits in an effort to create a greener form of cryptocurrency.

You can buy, sell, and withdraw carbon credits through the IMPT.io platform. Carbon credits are poured into NFTs, which helps prevent fraudulent activities. Meanwhile, the use of blockchain ensures a stable and transparent ecosystem that addresses environmental challenges more efficiently.

The project is in the second phase of the pre-sale stage.

The first pre-sale was dealing with IMPT tokens at $0.018 each, but in pre-sale 2, there was one IMPT token for $0.023. Hurry up and buy before the pre-sale 2 because in the next stage the price of the IMPT pre-sale will increase. Don’t miss it for any reason.

Calvaria

Calvaria is an NFT-based play-for-profit (P2E) battle card game that falls outside the veil of death. Players compete, earn and upgrade their cards to become the ultimate force on the battlefield.

Calvaria is powered by RIA, which is an ERC-20 token. The pre-sale is already in its final phase, with the requirement that RIA buy USD using ETH or stablecoins before the price increases.

There are several reasons why Calvaria has done so well early on. It’s a fun card game, the players really own all of their winnings, and the fact that it offers an opportunity for new cryptocurrency players to see what P2E is all about.

The Project works with some of the biggest names in the industry because they love and share Calvaria’s vision. Join Team Calvaria, together – only the sky’s the limit! Tokens will be available to claim at launch.

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To date, the Calvaria ICO has raised $2,137,661, which is an amazing feat given the short time it’s been live. There is very little time left to buy RIA at this low price. Anyone looking for the next great thing on the market should look no further. This crypto card game to play for is an excellent chance to win, with only 31% of tokens left!

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Blockchain

BNT/USD is trading near the $0.50 resistance

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The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.

Bancor Prediction Statistics Data:

  • Bancor price now – $0.34
  • Bancor’s market capitalization is $55.8 million
  • The circulating supply of Bancor – 162.5 million
  • The total supply of Bancor – 162.5 million
  • Bancor Coinmarketcap Ranking – #287

BNT/USD market

Key levels:

Resistance levels: $300, $310, $320

Support levels: $130, $120, $110

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BNTUSD – daily chart

BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.

Bancor Price Prediction: Bancor is preparing for an upward movement

According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.

However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.

Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.

BNTBTC – Daily Chart

However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

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DYDX/USD could rise above $1.20

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Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.

dYdX prediction stats data:

  • DYDX price now – $1.10
  • DYDX market capitalization – $72.7 million
  • Circulating supply of DYDX – 65.5 million
  • Total supply of DYDX – 1 billion
  • DYDX Coinmarketcap Rank – #198

DYDX/USD Market

Key levels:

Resistance levels: $2.00, $2.20, $2.40

Support levels: $0.50, $0.30, $0.10

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DYDXUSD – daily chart

DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.

dYdX Price Prediction: DYDX is ready for an uptrend

the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.

Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).

Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.

DYDXBTC – Daily Chart

Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

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Blockchain

SBF to Enter Plea Deal, Mango Exploiter Arrested, Celsius News: Hodler’s Digest, Dec. 25-31

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